Banking & Finance

The Central Bank of Egypt ( CBE )

Monday، 20 July 2009 12:00 AM

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The CBE

Established in 1960, the CBE is an autonomous public legal person, assuming the authorities and powers vested therein by Law No. 88 for 2003, and the Presidential Decree No. 64 for 2001961.4, Issuing the Statute of the Central Bank .

The Paid-up Capital is 1000 million Egyptian pounds ( LE). The funds of the Central Bank are considered private funds.

The CBE is committed to achieving, over the medium term, low rates of inflation which it believes are essential for maintaining confidence and for sustaining high rates of investment and economic with price stability being the primary and growth. The Government’s endorsement of the objective of price stability and its commitment to fiscal consolidation is quite important for achieving this objective.